- Sold Signs
So I promised earlier this week that I would break down the 2008 Sales Statistics for Homes & Condos in the City of Tacoma neighborhood by neighborhood.
I know folks around here are pretty sensitive about where neighborhood lines are drawn. I swear I almost heard someone go to blows over whether the were “Stadium” or “North Slope”. God forbid you start the discussion of “North End” or “Near North End”. I’ve decided that for the purposes of these statistics we are going to go by zip code, thereby sparing me the need to defend my definition of neighborhoods. I just hate conflict…
So today we will start with Downtown Tacoma, in the form of zip code 98402.
There aren’t a ton of single family homes in 98402, but 4 houses sold. They ranged in price from $87,600 – $276,000. 5 houses expired or were cancelled.
As for Condos, well, I thought it best to just make an old fashioned list. There is still a TON of condo inventory available downtown. There are 131 condos on the market right now. There were 25 condos sold this year in 98402 ranging from $174,000- $1,375,000. Here they are in order (by Building) from most sold to least sold:
Marcato – 9 Sold
Esplanade- 6 Sold
Perkins Lofts – 3 Sold
Roberson – 2 Sold
Bayview – 1 Sold
Walker – 1 Sold
Triangle Townhomes – 1 Sold
Granville – 1 Sold
Cliff Street Lofts – 1 Sold (sniff… sniff..)
Below is a list of Expired and Canceled Condo Listings in 98402 for 2008. Sometimes the same unit will expire, relist, and cancel (or sometimes sell) so sometimes 1 unit will have several checks. Note that the largest number of expireds/canceled are in the largest condo buildings, which makes sense.
Roberson – 70 (they expired and canceled and re-listed this year, so theirs #’s are especially high)
Esplanade – 31
Lexington Square – 26
Overlook on Broadway – 15
Thea’s Landing – 11
Marcato – 10
Cliff Street Lofts – 9
Sky Terrace – 8
Triangle Townhomes – 7
Perkins Lofts – 7
The Mecca – 6
Walker – 5
505 Broadway – 4
Panscape Condos – 4
440 St Helens – 4
Granville – 4
Broadway Five – 3
Vintage Y – 2
Bridge Lofts – 2
Luna – 1
Galleria – 1
SELLERS: If you are living in a building that has a high number of expireds/canceleds with no sales for the past year and you are thinking of selling, you and your agent are going to want to take a close look at the pricing and make sure that you enter the market under where your neighbors listed and failed.
BUYERS: Make sure to negotiate aggressively on your pricing and terms. Incentives I’ve heard about include paying your homeowners dues ahead for a year, paying for a years worth (or more) of leased parking, etc. Closing costs of 3% should be pretty much a given, also.
Update 1/1/09 – Forgot to mention: The median home price of the Sold condos is $321,625, with a median size of 957 square feet 2 bedrooms, 1.75 bathrooms . The average price of sold condos is$398,396.
The median home price of the currently listed condos is $399,000, with a median size of 1289 square feet, 2 bedrooms, 2 bathrooms. The average price of currently listed condos is $456,837.
If you are interested in seeing these homes and condos for yourself, send me an email at TheSkydivingAgent@gmail.com and I would be happy to send you a detailed list.
Next up, Hilltop- 98405.
